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As the Canadian energy sector searches for solutions to the current oil price crisis, Brian DePratto, senior economist from TD Bank Group, remains somewhat optimistic. He tells BNN Bloomberg that a discount of this magnitude won't last long and a steady narrowing of the WCS and WTI price differential will come in the new year.
A look at why the price of Western Canadian Select oil is weakening, with Mike Walls, senior crude oil analyst at Genscape.
Canadian crude oil prices are expected to strengthen and natural gas prices are expected to continue to improve into 2020, according to professional services company Deloitte Canada.
- Vaccines and Economic Recovery
- More Consolidation
- Emissions Plans
- Clouds Over Keystone XL
- Preparing For The Energy Future
The spread of COVID-19 around the world this year squashed fuel demand, taking crude oil prices down with it. Those prices eventurned negativeat one point. Canada's oilpatch slashed jobs and spending. Market watchers expect vaccines will help air and automobile travel pick up again, lifting oil demand, but when and how much remain topics of debate....
The $3.8-billion merger of two key players in the Canadian oil and gas business — Husky Energy and Cenovus Energy— was among the big surprises of 2020. The Canadian oil and gas sector is unlikely to see another merger of such size in 2021, but analysts believe consolidation will continue in the months ahead. "There's a lot of small operators with g...
The federal Liberal government recently laid out plans for cutting greenhouse gas emissions, and debate overthe strategy is sure to continue well into 2021. The centrepiece of the policy is a gradual increase in the federal carbon tax on fuels, which means pump prices, for example, will rise by more than 37 cents a litre by 2030. Rebates will be us...
The long-running saga surrounding Keystone XL could come to a head in 2021. The pipeline project, which aims to get more Alberta crude to Gulf Coast refineries in the U.S., has long faced environmental opposition. Soon, it will face an unfriendly White House, too. President-elect Joe Biden has called it "tarsands that we don't need," with environme...
Expect to hear more talk from policy-makers and executives about preparing for the energy future, whether that's innovation in the oil industry, geothermal technology or hydrogen development. "I think this is the year that companies can really set the course for where they want to go over the next decade, and maybe the next two or three decades," s...
Apr 21, 2021 · Western Canadian Select oil price dips below zero, WTI also dropping on Monday. Crude oil futures prices turn negative for the first time in history. Crude awakening: Oil prices plummet...
Oct 14, 2022 · A barrel of the North American oil benchmark is changing hands for about $90 US a barrel right now, but the heavy crude that comes from Canada's oilsands is fetching $30 less because of a...
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Feb 4, 2022 · The March crude oil contract for West Texas Intermediate closed at $90.27 US per barrel, up $2.01 per barrel, bolstered by geopolitical tensions and supply concerns.
